Companies do strange things for accounting reasons. For example, going all in on cloud, especially if you're a huge company who can afford the upfront costs of on-prem infrastructure and can reap the savings.

It turns out that buying equipment for on-prem is capex and only tax-deductible once, whereas a cloud subscription is opex and tax-deductible year over year. So it makes financial sense to go with cloud, even if it seems counterintuitive at first because on-prem is cheaper before you apply these accounting concerns.

I think something similar applies with hiring when interest rates are low.